It's been a wild and wonderful 1st quarter 2013 in real estate!

http://www.wral.com/pendulum-swinging-back-to-seller-s-market-for-triangle-homes/12248529/

Rental prices in Raleigh and Cary are skyrocketing. Why rent with historically low interest rates when you can buy?

http://www.bizjournals.com/triangle/morning_call/2013/03/raleigh-cary-rental-rates-outrun-wages.html

Triangle home sales up 9.8 percent last month.

Triangle Home Sales Up 9.8 Percent in February

The sun is shining brighter for longer, the birds are chirping a bit louder and people have a renewed spring in their step. And then there's the climate. Home buyers and sellers are readying themselves for an exciting spring market. Buyers are motivated by an attractive affordability environment, while more and more sellers are receiving near top dollar for their home. We've come a long way over the past 12 to 18 months but we're not there yet. Here's how February stacked up.

New Listings in the Triangle region increased 10.3 percent to 3,548. Pending Sales were up 21.6 percent to 2,081. Inventory levels shrank 13.4 percent to 12,804 units.

Prices reached for the clouds. The Median Sales Price increased 4.6 percent to $182,000. Days on Market was down 11.1 percent to 119 days. Absorption rates improved as Months Supply of Inventory was down 28.4 percent to 6.3 months.

A few consumers may feel less confident due to Washington's latest self-inflicted crisis. Others would advise not to read the news in the first place. The fact is, the economy continues to grow, but at a snail's pace. Sequestration is more of a nuisance than a real threat to recovery; and there's significant pent–up demand from renters, first-timers, parental basement dwellers and investors to counteract it.

Credit: TMLS

We are feeling this increase in activity with both our buyers and our sellers.  Now is the perfect time to buy or sell!

More jobs are coming to Cary and Charlotte!

Met-Life is hiring for jobs in Cary & Charlotte!

http://www.newsobserver.com/2013/03/07/2732748/metlife-to-add-2622-jobs-in-cary.html#emlnl=Breaking_News

Raleigh made it to the top of Forbes' best again!

Raleigh is known as the ""City of Oaks"" for its many oak trees. The capital city is part of North Carolina's Research Triangle, one of the country's largest and most successful research parks and a major center in the U.S. for high-tech and biotech research. The surrounding area is home to a number of colleges and universities including Duke University, North Carolina State, University of North Carolina at Chapel Hill and Wake Forest University. These schools have a notable economic impact on the area. The North Carolina Museum of Art, occupying a large suburban campus on Blue Ridge Road near the North Carolina State Fairgrounds, maintains one of the premier public art collections located between Washington, D.C., and Atlanta.

http://www.forbes.com/places/nc/raleigh/

More job opportunities for the RTP area!

Go Garner, NC!  Congratulations on capturing this employment base!

http://wraltechwire.com/biotech-pharma-equipment-firm-picks-garner-for-new-plant/12131161/

Five ways to update your bathroom without breaking the bank.

The best places to spend money to increase home value is the kitchen and bathroom.  Now you can update your bathroom without breaking the bank!

http://homes.yahoo.com/news/low-cost-ways-to-update-bathroom-222406586.html

Thinking of investment property? What is happening in the investment world?

What is happening in the world of investment properties?  Well, rent increases have been in the range of 5-10% over the last 6 months depending upon the specific Research Triangle Park, NC location, the credit quality of the tenant pool is much improved as compared to 5 years ago, apartment vacancy rates are at historic lows and construction of new apartments has increased dramatically. 

(Courtesy of Deaton Investment Real Estate, Inc.)

Raleigh/Durham is off to a great start in 2013! The Research Triangle Park area in NC is a GREAT place to live!

~ #11 Healthiest City for Women

(Raleigh, NC)

Women’s Health | January 2013

 

~ #1 City for Biggest Gains in Home

Sales in 2012

(Raleigh-Durham NC)

RE/MAX | January 2013

 

~ #1 Metro for Housing Construction

Permits in 2012

(Raleigh-Cary, NC)

U.S. Census Bureau/Trulia

January 2013

 

~ #9 Hot City for IT Jobs in 2013

(Raleigh, NC)

Modis | January 2013

 

~ #10 Best City to Find an IT Job

(Raleigh, NC)

CIO.com | January 2013

 

~ #7 Best Run City in America

(Raleigh, NC)

24/7 Wall Street | January 2013

 

~ #1 Family Friendly City in U.S.

(Raleigh, NC)

Human Life Project | January 2013

 

~ #4 Fastest Growing City in America

(Raleigh-Cary, NC)

Forbes | January 2013

Are you searching for the perfect cake for the perfect occasion? Well search no more because NikNat's is the place to go! 
https://www.facebook.com/NikNats.1960 

They make delicious, beautiful, creative cakes and cupcakes!

There is a new rule for Federal Housing Administration loans that will take effect this year!


http://www.homebuyinginstitute.com/news/credit-score-benchmark-297/

2012 Raleigh / Charlotte housing update

"We (Raleigh) have one of the strongest housing market in the country right now"!

http://www.homebuyinginstitute.com/news/raleigh-charlotte-housing-301/

Cities with the biggest gains in home sales in 2012

Wonderful news for the Raleigh housing market continues:

From the Home Buying Institute, Brandon Cornett, January 23, 2013:  "RE/MAX recently released it's National Housing Report for January 2013.  The monthly report dates back to 2008 and is based on MLS data from 52-53 of the largest metropolitan areas in the United States.  The January report contained data through the end of 2012.

The report showed a positive trend in both home sales and the median price of homes sold.  Nationwide, the median sales price rose 7.6% in 2012 (when measured from Dec 2011 - Dec 2012).  Sales volume was up by 3.8% during the same period.  At the metro level, the trends were varied.  Some housing markets experienced price and volume gains much higher than the national average.

1.  RALEIGH-DURHAM, NC +31.3%

The Raleigh metro-area housing market has a lot going for it.  But there's one overriding factor that bossted homes sales in 2012 -- population growth.  Forbes recently ranked the fastest growing cities in the US, factoring in population growth for 2012 and 2013 (projected), as well as economic growth.  The Raleigh area was fourth on their list."

The other areas on the list:

• Albuquerque, NM + 29.6%
• Providence, RI +24.5%
• Chicago, IL +21.1%
• Hartford, CT + 19.9%
• Charlotte, NC +16.7%

To read the full report, go to:  http://www.homebuyinginstitute.com/news/remax-home-sales-300/

10 Things the will torpedo the value of your home

What are the 10 things that will decrease the value of your home?  The attached article covers them in detail:

http://homes.yahoo.com/news/10-things-that-will-torpedo-the-value-of-your-home-002936585.html

How do you know the real estate market is getting better?

1. Both asking price and rents jumped 5 percent from last year

Trulia’s latest Price and Rent Monitors showed a big boost in asking prices across the U.S. – up 5.1 percent year-over-year. This a drastic change from the double digit declines of previous years.
The relevant news for your buyer and seller prospects isn’t just that home prices are climbing, but that renting is getting more expensive as well. The statistics showed rents are up 5.2 percent year-over-year.
If you understand supply and demand, it’s obvious that these two facts point toward more real estate moves happening, and that consumers have gotten over the angst of previous years and shifted into the “recovery mindset.”

To follow along or view past data releases from Trulia, check out the Pro Blog’s Industry Feed where you can find graphics and facts you can share to help boost consumer confidence in your market.

2. Mortgage rules got a renovation.

Predatory lending practices linger near the top of many economists’ blame lists for the most recent market decline. And, after years of fallout from bad mortgages, capable buyers have been, understandably, slow to purchase.
For those buyers who’ve been anxious about the mortgage process and skeptical of the predatory lending, this Thursday brought great news and a sure “go” sign for them to jump into the market.
Thursday the Consumer Financial Protection Bureau released it’s new mortgage guidelines which are “a set of standards that protects consumers from bad loans” according to David Stevens, CEO of the Mortgage Bankers Association.
The new guidelines show that banks and the government are working out their differences to create a safer, more secure environment for homeowner hopefuls. In addition, the new guidelines give those buyers access to mortgage best practices upfront to help them ensure they’re ready for application and ownership from the start.
For a great summary of the new guidelines, check out CNN’s article “New Rules Aim to Make Mortgages Safer”.

3. Delinquency & foreclosures are at record lows.

Declining delinquencies aren’t just fluffed headlines, the numbers support what it seems many agents are feeling.
Delinquencies are down. According to Trulia’s Chief Economist, Jed Kolko, “ In November, 10.63% of mortgages were delinquent or in foreclosure, down a hair from 10.64% in October. The combined delinquency + foreclosure rate is at its lowest level in four years and is 41% back to normal.”
These stats are good news for buyer’s agents whose clients and prospects need a boost of confidence.

4. 93% of Millenials plan to buy.

Last quarter we released Trulia’s American Dream Survey and one of the top facts from our study showed that 93 percent of current millennial renters plan to buy.
This is good news for an industry that’s suffered from years of skittish home shoppers and a lot of talk about home buying no longer being a part of the American Dream.

5. Investors rush in.

Another sign that we’re on the way to a high-paced recovery is that investors are making major moves to capitalize on today’s opportunity.
A recent story from Bloomberg covered how Blackstone Group, the largest U.S. private real estate owners, sped up it’s purchases of homes to try to beat out fast rising prices.
This is a sign for on the fence buyers to start their hunt before the weather heats up and they face more competition than they can handle.
These are some of the national signs that show the recovery is well under way.

Thanks, Trulia!